Eden Villalovas is a breaking news reporter. Eden graduated from the University of Colorado, Boulder, in May 2022, where she served as the managing editor of the Bold.
As the automotive industry is transitioning toward greener energy, electric vehicles incentives and rebates have swept the nation. However, drivers are reporting concerns about trading in their gas-powered vehicles for a more sustainable alternative.
The average transaction price of a new EV is $50,683, according to Kelley Blue Book data, which is down significantly since September 2022, when the average price came in at $65,295. But EVs typically do cost more upfront, according to an AlixPartners report last year. The raw materials needed to manufacture an EV are 125% more costly than those needed to produce a comparable internal combustion engine vehicle.
The Washington Examiner reached out to Tesla to discuss the average cost of repairing rain damage to their vehicles.Another major concern for those considering EVs is the limited availability of charging stations across the United States. The charging station shortage can be attributed to the high cost of installation and maintenance. California has long been a leader in overall EV sales, reporting more than 900,000 sales in the first quarter of 2023. However, The Golden State recorded only 3.
Earlier this year, Biden announced large new investments to go toward EV charging equipment, hoping to build 500,000 EV chargers by 2030.
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